The Asian Development Bank (ADB), despite severe crisis on national economy due to the increased conflicts, predicted on Friday that Nepal’s Gross Domestic Product (GDP) growth rate would be at over four percent in 2004.

Sultan Hafeez Rahman, country director of ADB’s Nepal Resident Mission, talking to media at a year-end press conference said that the security situation continues to pose a threat to a sustained and strong GDP growth over the medium term.

“Sustained social and economic progress is inevitable to address issues such as regional economic disparities, income inequality, lack of opportunity, and marginalization of ethnic minorities, lower castes and women,” Rahman said according to the Himalayan Times.

On the same occasion, ADB announced the approval of four loans totaling US $ 94 million and nine technical assistance grants totaling US $ 4.17 million. nepalnews.com mr Dec 27